Common use of Voting Rights and Transfer Clause in Contracts

Voting Rights and Transfer. (a) So long as no Event of Default (as hereinafter defined) shall have occurred and is continuing and Lender has not delivered the notice specified in subsection (b) below, the Borrower shall be entitled to exercise any and all voting and other consensual rights pertaining to the Pledged Shares or any part thereof for any purpose not inconsistent with the terms of this Agreement or any document or agreement executed in connection herewith. (b) Upon the occurrence and during the continuance of an Event of Default, at the option of the Lender exercised in a writing sent to the Borrower, all rights of the Borrower to exercise the voting and other consensual rights which it would otherwise be entitled to exercise pursuant to subsection (a) above shall cease, and the Lender shall thereupon have the sole right to exercise such voting and other consensual rights. (c) At any time after the occurrence of an Event of Default, the Lender may transfer any or all of the Pledged Shares into its name or that of its nominee and may exercise all voting rights with respect to the Pledged Shares, but no such transfer shall constitute a taking of such Pledged Shares in satisfaction of any or all of the Debt unless the Lender expressly so indicates by written notice to the Borrower.

Voting Rights and Transfer. (a) So long as no Event of Default (as hereinafter defineddefined in Section 4 below) shall have occurred and is be continuing and the Lender has not delivered the notice specified in subsection (b) below, the Borrower shall be entitled to exercise any and all voting and other consensual rights pertaining to the Pledged Shares or any part thereof for any purpose not inconsistent with the terms of this Agreement or any document or agreement executed in connection herewith. (b) Upon the occurrence and during the continuance of an Event of Default, at the option of the Lender exercised in a writing sent to the Borrower, all rights of the Borrower to exercise the voting and other consensual rights which it would otherwise be entitled to exercise pursuant to subsection (a) above shall cease, and the Lender shall thereupon have the sole right to exercise such voting and other consensual rights. (c) At any time after the occurrence of an Event of Default, the Lender may transfer any or all of the Pledged Shares into its name or that of its nominee and may exercise all voting rights with respect to the Pledged Shares, but no such transfer shall constitute a taking of such Pledged Shares in satisfaction of any or all of the Debt unless the Lender expressly so indicates by written notice to the Borrower.

Voting Rights and Transfer. Except as may otherwise be imposed or required by any Official Body: (a) So long as no Event of Default (as hereinafter defined) shall have occurred and is continuing and Lender has not delivered the notice specified in subsection (b) below, the Borrower shall be entitled to exercise any and all voting and other consensual rights pertaining to the Pledged Shares or any part thereof for any purpose not inconsistent with the terms of this Agreement or any document or agreement executed in connection herewith. (b) Upon the occurrence and during the continuance of an Event of Default, at the option of the Lender exercised in a writing sent to the Borrower, all rights of the Borrower to exercise the voting and other consensual rights which it would otherwise be entitled to exercise pursuant to subsection (a) above shall cease, and the Lender shall thereupon have the sole right to exercise such voting and other consensual rights. (c) At any time after the occurrence of an Event of Default, the Lender may transfer any or all of the Pledged Shares into its name or that of its nominee and may exercise all voting rights with respect to the Pledged Shares, but no such transfer shall constitute a taking of such Pledged Shares in satisfaction of any or all of the Debt unless the Lender expressly so indicates by written notice to the Borrower.